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cliff talks. do you think anyone is serious about that? >> well, there needs to be. medicare is the largest growth in expenditure in the federal budget. if we don't reform the way that we pay of medicare it's going to be one of the things that breaks the bank and makes us unable to meet our obligations, so we absolutely have to reform it. the legislation that i wrote back in 2010 that we passed a bipartisan support and signed by the president went after something that everything to everybody is against. gerri: let's get to that in the second. i just want to spend one more second of this idea. the senator from illinois saying on tv that he would like to see 400 billion entitlement cuts, the vast majority of the savings, all of it coming from medicare. is that the right amount? more, less? >> its plan to have to be more overtime. at least the democrats are talking about something. the fastest-growing part of the budget. 85 percent of the federal budget is medicare, medicaid, social security defense
cliff talks. do you think anyone is serious about that? >> well, there needs to be. medicare is the largest growth in expenditure in the federal budget. if we don't reform the way that we pay of medicare it's going to be one of the things that breaks the bank and makes us unable to meet our obligations, so we absolutely have to reform it. the legislation that i wrote back in 2010 that we passed a bipartisan support and signed by the president went after something that everything to...
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Nov 30, 2012
11/12
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last night, we covered the details of the president's opening gambit in the fiscal cliff talk. he wants a $1.6 trillion tax increase, 50 billion and stimulus spending. and the white house has the ability to raise the debt ceiling without congressional approval. a very big deal for folks there. today, the president is out there, trying to drum up support among the public. not in washington or with congress or the senate. here is what he had to say. >> it is not acceptable to me, and i do not think it is acceptable to you for a handful of republicans in congress will middle-class tax cuts hostage simply because they don't want tax rates on upper income folks go up. gerri: it sounds like the same old, same old. the president has been making the same comments again. is this any way to sell a plan? >> there really is not. the president is not being serious about this. the fact that the president is out there campaigning on this rather than negotiating, it means that those that are negotiating, such as secretary geithner, they probably don't feel bound by what the president is saying
last night, we covered the details of the president's opening gambit in the fiscal cliff talk. he wants a $1.6 trillion tax increase, 50 billion and stimulus spending. and the white house has the ability to raise the debt ceiling without congressional approval. a very big deal for folks there. today, the president is out there, trying to drum up support among the public. not in washington or with congress or the senate. here is what he had to say. >> it is not acceptable to me, and i do...
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Nov 29, 2012
11/12
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so much for progress on the fiscal cliff talks. at least for today. progress getting a fever pitch as john boehner says white house needs to get serious. senate majority leader harry reid says he is waiting for a serious offer from republicans. so there you can see the stock market slightly higher, reacting to every last word coming out of capitol hill. now the dow was higher, but off of the best levels of the session as we make progress. melissa arizona is the latest state to refuse the exchange. we will bring on judge andrew napolitano to talk about this one. lori: "time" magazine announcing it candidate for person of the year. wait until you hear who the candidates are. we will handicap the list with lou dobbs. melissa stocks as we do every 15 minutes. nicole petallides standing by. stocks are losing sseam as house speaker john boehner took the podium although they have recovered a bit. nicole: is difficult to monitor which way and guess which way the market will go as each headline process crosses, we'reg the market being started around the unchan
so much for progress on the fiscal cliff talks. at least for today. progress getting a fever pitch as john boehner says white house needs to get serious. senate majority leader harry reid says he is waiting for a serious offer from republicans. so there you can see the stock market slightly higher, reacting to every last word coming out of capitol hill. now the dow was higher, but off of the best levels of the session as we make progress. melissa arizona is the latest state to refuse the...
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Nov 30, 2012
11/12
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maybe some type of newsbreak about the fiscal cliff over the weekend. buyers have been kept pretty much on the sidelines. house speaker john boehner talking yet again today about the lack of progress in talks with the president. this is a quote "there is almost no progress, but he is willing to move forward in good faith." consumer discretionary stocks have been the week links today. things like yum brands have been down on things like heavy volume. sale estimates missed. hy retail out of fashion once again. coach and tiffany in the red. they missed their earnings numbers. market does not like surprises. let's take a look at metal. gold down about $17. even as the dollar falls against the euro. perhaps, you can blame it on the fiscal cliff. you can mention that silver is down more tightly. lots of things going on in the markets. coming up just a little bbt later in the show, you have to see this. talk about optimism. michael milken. remember him in the 90s? he was a real rock star when it came to backing small entrepreneurial ideas and companies and the
maybe some type of newsbreak about the fiscal cliff over the weekend. buyers have been kept pretty much on the sidelines. house speaker john boehner talking yet again today about the lack of progress in talks with the president. this is a quote "there is almost no progress, but he is willing to move forward in good faith." consumer discretionary stocks have been the week links today. things like yum brands have been down on things like heavy volume. sale estimates missed. hy retail...
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Nov 29, 2012
11/12
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also, who's talking to congressional leaders about the fiscal cliff? tim geithner. obama goes on the road, look at that video. tim geithner arriving at the white house. capitol hill, dow industrials up 63 points in the early going this there's a morning. recovering investment banker carol roth is here, charles payne is here and nicole petallides on the floor. she looks really angry, on the floor of the stock exchange. new at 10:00, is the mortgage deduction on the table in the fiscal cliff talks, the answer is yes. >> at this point everything is on the table. the challenges you have to question where the limit is. do we want people to the grandfathered in, you don't want anyone to get a new mortgage, we have ridiculously low interest rates, stocks in terms of prices, we don't need it to the grandfathered and the table for the future. stuart: i don't believe anyone is saying abolish the mortgage interest deduction. and a certain amount year is what they were saying. and the interest on it is -- they lower that. charles: there are some people that are derivative. stua
also, who's talking to congressional leaders about the fiscal cliff? tim geithner. obama goes on the road, look at that video. tim geithner arriving at the white house. capitol hill, dow industrials up 63 points in the early going this there's a morning. recovering investment banker carol roth is here, charles payne is here and nicole petallides on the floor. she looks really angry, on the floor of the stock exchange. new at 10:00, is the mortgage deduction on the table in the fiscal cliff...
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Nov 30, 2012
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the industry, all at stake if we go over the fiscal cliff. and dr. francis collins with the national institutes of health. fiscal cliff. folks including today to liz hy malcolmed the month of november and the red and nasdaq and s&p close slightly higher, consumer discretionary and industrials were this month's top performing sectors, utilities and energy lagged behind. oil posting its second straight day of gains closing the trading day up 1%, $80.91 for a barrel of oil and today's gains in crude up 3% for the month of november as concern over threats to supply due to mideast violence offset ongoing demand worries and personal spending, are you part of this, it sold for the first time in five months dropping 0.2%. the commerce department is a debating that to hurricanes and the lowering wages and salaries by an annual rate of $18.2 billion. dave: we may get a dividend bust in the month of december and discuss all of these issues we have kevin in the pits of the cme and joe durant and united financial telling us what brand names are the best p
the industry, all at stake if we go over the fiscal cliff. and dr. francis collins with the national institutes of health. fiscal cliff. folks including today to liz hy malcolmed the month of november and the red and nasdaq and s&p close slightly higher, consumer discretionary and industrials were this month's top performing sectors, utilities and energy lagged behind. oil posting its second straight day of gains closing the trading day up 1%, $80.91 for a barrel of oil and today's gains in...
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if we got the fiscal cliff. gerri: withhe dense cuts come if we do over the cliff, it will cost $100 million or over that? >> 137 million. gerri: would this put you into the red? >> it certainly could. we are still looking at obama's health care plan and what it will do to the sta budget. the federal strings are tied. i asked the president about this. the federal funds that come down to the state as you may cuts -- we can still have the strength attached to it. it doesn't give leeway to meet your unique circumstances in our state. we are all different. different budgets,ifferent employment rates, different constitutions, different laws. different styles of living and means within our budget. give us some flexibility. gerri: i expect you to be a little bit more upbeat about the fiscal cliff, but i have to tell you, you sound like a lot of people in washington today. concerns over whether these leaders can get together and find common ground and resolve this issue. it would be meaningful to stay like yours. govern
if we got the fiscal cliff. gerri: withhe dense cuts come if we do over the cliff, it will cost $100 million or over that? >> 137 million. gerri: would this put you into the red? >> it certainly could. we are still looking at obama's health care plan and what it will do to the sta budget. the federal strings are tied. i asked the president about this. the federal funds that come down to the state as you may cuts -- we can still have the strength attached to it. it doesn't give...
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gerri: talk about one of those issues that has been at the margins of the conversation on the fiscal cliff. do we get rid of the mortgage deduction? lo the proves and cons. people from the -- lots of pros and cons. they say it will cost 15% of the off housing prices lopped off. what do you think the same pack will be? >> i don't think it will have that effect. what usually happens when you have really bag news, people pause for a moment, absorb it and move on. what we have going on is so much push in upward momentum in the housing market i can't even fathom that affecting housing prices. hardly at all quite honestly. gerri: do you think that first-time buyers in particular rely on that deduction? they're thinking about that deduction when they make the decision to buy? might it discourage people that otherwise might get into the market? >> we'll said, for some people it will make them pause a bit. it sounds so good to buy. they're tempted back in the market by cheap prices and cheap money. those are giant momentous things that happen that push people back in. gerri: i think this is a
gerri: talk about one of those issues that has been at the margins of the conversation on the fiscal cliff. do we get rid of the mortgage deduction? lo the proves and cons. people from the -- lots of pros and cons. they say it will cost 15% of the off housing prices lopped off. what do you think the same pack will be? >> i don't think it will have that effect. what usually happens when you have really bag news, people pause for a moment, absorb it and move on. what we have going on is so...
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Nov 29, 2012
11/12
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>> everyone talks about the fiscal cliff. i referred to it as the fiscal speedbump. no matter what happens, we are not going to revert a tax increase in some kind of drag on economic activity next year. even if there is no grand bargain that we are all talking about, the shrinking of the federal deficit, whether by spending cuts or tax increases, it will be a drag on economic growth for the next few years. dagen: is that what you have 1.63 roughly on the ten year? >> the federal reserve is drunk. while back the fed is distorting the bond work it. dagen: does it make sense that the fed is likely to continue the bond buying into the next year? does that make any sense on the planet? >> well, look, i thought qe1 was absolutely essential. qe2 i understood why we did it. qe3, i do not get it. i think the fed is making a mistake here. they could have achieved the same or even a better objective by following a different policy. this is the path we are on. doctor bernanke is obviously completely preoccupied with the risks of having a depression and he is throwing as much mon
>> everyone talks about the fiscal cliff. i referred to it as the fiscal speedbump. no matter what happens, we are not going to revert a tax increase in some kind of drag on economic activity next year. even if there is no grand bargain that we are all talking about, the shrinking of the federal deficit, whether by spending cuts or tax increases, it will be a drag on economic growth for the next few years. dagen: is that what you have 1.63 roughly on the ten year? >> the federal...
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Nov 29, 2012
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that formerly sacred and untouchable deduction is on the table for fiscal cliff talks. that costs the government $100 billion a year. you know they're looking at every rock for revenue. it would take buyers away from the house market and it could be devastating to the economy. we have lindsey piegza and dan mitchell, from the cato institute. welcome to you both. lindsey, let me start with you. we shouldn't be surprised everything is on the table here, right? >> sure. but this is a big potential problem. it would no doubt cause prices on homes to fall? liz: to rise? >> i'm sorry. liz: if you took the mortgage deduction it would cause prices to rise. >> we would see prices fall because the demand for homes would teeter. this is big decision whether deciding to rent or purchase. you remove that incentive people will drop out of the marketplace. all of sudden a lot of potential homebuyers would-be homebuyers drop out of the marketplace and cause decline in prices up to 10%. this could really undermine any momentum we've seen in the housing market as of late. liz: that is in
that formerly sacred and untouchable deduction is on the table for fiscal cliff talks. that costs the government $100 billion a year. you know they're looking at every rock for revenue. it would take buyers away from the house market and it could be devastating to the economy. we have lindsey piegza and dan mitchell, from the cato institute. welcome to you both. lindsey, let me start with you. we shouldn't be surprised everything is on the table here, right? >> sure. but this is a big...
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and these fiscal cliff concerns really mean for businesses and your money. jim aim most, chairman of tasti delight and plan net smoothie. we have the ceo of fastsigns. jamie richardson is the vice president of white castle. we have a power panel. thanks for joining us. i want to start with news from clarence otis, ceo of darden restaurants. obviously he came out of and said the forecast for his company going forward is looking very bleak. the negative media coverage focused on darden and how they might accommodate health care reform. he said they would have to go ahead and use many more part-time workers because obamacare was simply too expensive. there was a big backlash against that. so he is going to have to go ahead and, as a result, they are going to keep full-time workers on. they're stuck with the cost of obamacare. he also said, they're having a tough time, people aren't coming into the restaurants because the economy is bad. so in my mind he spoke out. he got punished for it. at the same time the economy is terrible. he is really struggling. at the
and these fiscal cliff concerns really mean for businesses and your money. jim aim most, chairman of tasti delight and plan net smoothie. we have the ceo of fastsigns. jamie richardson is the vice president of white castle. we have a power panel. thanks for joining us. i want to start with news from clarence otis, ceo of darden restaurants. obviously he came out of and said the forecast for his company going forward is looking very bleak. the negative media coverage focused on darden and how...
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Nov 29, 2012
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and the so-called fiscal cliff dominating debate in washington d.c. a lot of talk. what about the finances in state capital all across the country? folks are kind of ignoring another source of -- well, let's say inched. take a look at some of the worst offenders in the "chalk talk" here next. stay with us. ♪ [ engine revs ] ♪ ♪ [ male announcer ] e mercedes-benz winter event is back, no matter which list you're on. [ santa ] ho, ho, ho, ho! [ male announcer ] lea a 2013 ml350 for $599 a month at your local mercedes-benz dealer. now we need a little t more... [ male announcer ] at humana, we understand the value of quality time and personal attentn. which is why we are proud to partner with health care professionals who understand the difference that quality time with our meers can make... hat's a very nice cake! ohh! [ giggles ] [ male announcer ] humana thanks the physicians, nurses, hospitals, pharmacists and other health professionals who helped us achieve the highest average star rating among national medicare companies... and become the first and only nat
and the so-called fiscal cliff dominating debate in washington d.c. a lot of talk. what about the finances in state capital all across the country? folks are kind of ignoring another source of -- well, let's say inched. take a look at some of the worst offenders in the "chalk talk" here next. stay with us. ♪ [ engine revs ] ♪ ♪ [ male announcer ] e mercedes-benz winter event is back, no matter which list you're on. [ santa ] ho, ho, ho, ho! [ male announcer ] lea a 2013 ml350...